6 May 2014 07:01
6 May 2014
Earthport plc
("Earthport", or the "Company")
Global Contract with HSBC
Earthport plc (AIM: EPO), the cross-border payments service provider, is delighted to today announce a multi-year global contract with HSBC with a significant minimum revenue commitment. Under the terms of the agreement, HSBC will integrate with Earthport to expand the coverage of its Global Disbursements™ product across countries in Central and Eastern Europe, and the Asia Pacific region.
Once live, Earthport will facilitate low value cross-border payments across countries which are not currently part of HSBC's Global Disbursements™ network to its corporate and financial services clients.
Hank Uberoi, Chief Executive Officer of Earthport plc, commented: "I am delighted that HSBC, one of the largest banking and financial services organisations in the world with a reputation for global service, has chosen Earthport to enhance its cross-border payments product. This is another significant contract with minimum revenue commitments that Earthport has signed with a major Tier 1 bank within a few months. In addition to increasing future visibility, this contract demonstrates Earthport's increasing traction and unique strategic positioning within the payments ecosystem.
"Our service is underpinned by a large and growing network facilitating domestic payments in 60 countries globally and we look forward to adding further geographies, enabling additional payment routes to our clients and their customers."
For further information, please contact:
Earthport plc Hank Uberoi
| 020 7220 9700 |
Charles Stanley Securities Mark Taylor / Paul Brotherhood
| 020 7149 6000 |
Panmure Gordon Katherine Roe / Fred Walsh
| 020 7886 2500 |
Newgate Threadneedle Fiona Conroy / Caroline Evans-Jones / Josh Royston / Jasper Randall
| 020 7653 9850 |
About Earthport
Earthport plc, a regulated global financial services organisation, specialises in the provision of a white label cross-border payments service.
Through its innovative payments framework, specifically designed for high volumes of low value cross-border payments, Earthport provides a cost-effective and transparent service for secure international payments. Earthport's clients include banks, money transfer organisations, payment aggregators, e-commerce businesses and foreign exchange businesses. Through Earthport's well established payments infrastructure, clients can clear and settle payments directly to banked beneficiaries in 60 countries.
The company is headquartered in London and is listed on the Alternative Investment Market (AIM) on the London Stock Exchange. It operates globally with additional regional offices in Dubai and New York. Earthport plc is authorised and regulated by the Financial Conduct Authority under the Payment Service Regulations 2009 for the provision of payment services. To learn more, please visit www.earthport.com and follow us via RSS or on social channels, Twitter @Earthport,
LinkedIn, Youtube and Slideshare.